The global economic collapse still hasn't happened...

Discussion in 'Markets & Economies' started by TreasureHunter, Aug 14, 2016.

  1. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    Well here's one. Rickards says that the price of gold will be revised upwards on 30 September when the SDR is in place, with the Yuan as a component. The theory is the USD is thereby toast and the house of cards teeters and falls.

    It would fit in with the previous October results of course, but naming 30 September is not wise.
     
  2. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,552
    Likes Received:
    977
    Trophy Points:
    113
    Location:
    New South Wales
    Have you got a link for that Julie?

    I do like Rickards even though I take him with a grain of salt (as I do everyone) but this comment runs contrary to my own world view right now. I am of the opinion we're into a hard core "kick the can" mode for the next 3 months at least. If I'm wrong I want to understand why and get on top of it.
     
    Gullintanni likes this.
  3. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    [​IMG]
    Source: http://lonestarwhitehouse.blogspot.com.au/2015/09/jim-rickards-twitter-feed-sept-2016-is.html

     
  4. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,552
    Likes Received:
    977
    Trophy Points:
    113
    Location:
    New South Wales
    That looks like it was written in October 2015.

    I'll keep an eye out for any more recent updates from Rickards. He was spot on (pun intended) about Brexit and the gold price reaction (he made a video the day before), so I do take notice when he makes a call on something like this.
     
  5. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    http://www.stockgumshoe.com/reviews...or-the-u-s-dollar-as-jim-rickards-is-warning/


     
  6. SpacePete

    SpacePete Well-Known Member Silver Stacker

    Joined:
    Mar 1, 2014
    Messages:
    12,433
    Likes Received:
    40
    Trophy Points:
    48
     
  7. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Max & Stacy, where have you been?

     
  8. SlyGuy

    SlyGuy Active Member

    Joined:
    Sep 6, 2018
    Messages:
    251
    Likes Received:
    178
    Trophy Points:
    43
    Location:
    USA
    Rickards is one of the most educated and logical guys when it comes to gold. He is a 'hope for the best, keep your eyes open, and prep a bit for the worst' type of dude who looks at markets logically. I think that 10% is a fine place to be. Dalio usually recommends 7.5% gold. Most other investment gurus recommend even less.

    For me, the idea is to be somewhat prepared for the worst... but not betting everything on it. I find that too much pessimism is bad for not only my portfolio value... but also mental health and overall life enjoyment. It's just not healthy to spend every day fearing and expecting thunderstorms or monsoons. I would rather own a poncho and rain boots and a tent yet live a normal life... than spend nearly all of my money building a full-on ark in my backyard at the expense of everything else I enjoy.
    If you start getting much higher than approx 10% on precious metals, you really begin to neuter your portfolio growth potential. That may be fine for some who already have wealth well beyond their needs and only need preservation, but the average person needs growth of their portfolio.

    -In a financial downturn, the gold fraction will make a rough time less rough.

    -In a serious crash (30,40,50+ percent in stocks and real estate), the gold will be a real winner. You can always increase your gold % once a bona fide bear market; it's not as if the gold spike occurs instantaneously with the same days the stocks go into a tail spin. There are many months to react and transfer to precious metals when you look at historical crashes (although some bullion dealers will be out of stock on some stuff).

    -In a complete wipeout scenario (bank runs, stock markets shut down, currency collapse and/or withdrawals frozen), then the 10% gold gives you a sizable bit to get by with or to leave the area and start over with. This would be like Rickards "ICE-9" scenario in his book 'Road to Ruin,' but we all know that measures that extreme are pretty unlikely. Again, you need to live your life... can't constantly be fearing and planning for monsoons.
     
    Last edited: Nov 7, 2018
  9. SlyGuy

    SlyGuy Active Member

    Joined:
    Sep 6, 2018
    Messages:
    251
    Likes Received:
    178
    Trophy Points:
    43
    Location:
    USA
    Here is what Rickards said (approx the 38:10 mark) his personal portfolio is this 2018 year (10% gold, 30% cash, 10% bonds, 20% real estate, 30% public and private equities):



    ...the whole video is pretty good. He is a smart dude who can still make sense to the audience.
     
  10. Gullintanni

    Gullintanni Well-Known Member

    Joined:
    Jun 15, 2016
    Messages:
    945
    Likes Received:
    344
    Trophy Points:
    63
    Location:
    New Zealand
    This is very interesting to me because 1970 was ONLY 48 years ago.
    I know it seems like a very very long time (a lifetime to some) but in the big picture 50 years is sweetFA.
     
  11. Gullintanni

    Gullintanni Well-Known Member

    Joined:
    Jun 15, 2016
    Messages:
    945
    Likes Received:
    344
    Trophy Points:
    63
    Location:
    New Zealand
    Also very interesting.
    Are many of you aware that at the bottom of the South Island here in NZ we have an aluminium smelter (Tiwai point) and that one factory uses around 18% OF ALL ELECTRICITY produced for the entire country.
    I have got what i thought was a decent deal for home power at $0.19c per Kwh yet these guys have managed to get a deal for around $0.06c per Kwh.
     
  12. pmbug

    pmbug Active Member

    Joined:
    Oct 22, 2011
    Messages:
    400
    Likes Received:
    155
    Trophy Points:
    43
    Location:
    Texas
    Two bits from September 2018:

    Ray Dalio sees dollar crisis about two years away:



    More: https://www.nzherald.co.nz/index.cfm?objectid=12126427&

    Feldstein is a Harvard professor and head of the National Bureau of Economic Research.
     
  13. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
  14. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Morgan Report & Craig Hemke.
     
  15. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

    Joined:
    Jan 8, 2016
    Messages:
    4,171
    Likes Received:
    1,143
    Trophy Points:
    113
    Location:
    North Sydney
    The only true sage are people who only make one prediction at a time. I don’t mean disappear from mainstream media, I mean from everything even small YouTube vids.

    Pundits like Rickards make different forecast every week, one has to come true one day.
     
  16. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia

    Brandon Smith appears to be a very deep thinker & appears to be all over the subjects he posts on. Please do your own due diligence anyhow, I'm sure you will sort the wheat from the chaff. _JLG.

    p.s. And if you are referring to Morgan, he has been around for years & tends to waffle on without saying anything new. (other people's opinion, not mine), lol. _JLG.
     
  17. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,327
    Likes Received:
    842
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Greg Hunter with Egon von Greyerz 11th Dec. 2018 video. 33 mins. ENJOY. _JLG.
     
  18. shinymetal

    shinymetal Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    1,815
    Likes Received:
    685
    Trophy Points:
    113
    Location:
    victoria
    bandicam 2018-12-13 19-53-14-795.jpg bandicam 2018-12-13 11-54-07-097.jpg

    Structural change coming to the FED.. Gold will destroy the FED.

    Make of this what you will... But it seems clear as day to me.
     
    JOHNLGALT likes this.
  19. milled

    milled Active Member

    Joined:
    Dec 4, 2018
    Messages:
    236
    Likes Received:
    116
    Trophy Points:
    43
    EVG is a Sprott rotational stalwart, if memory serves. Be very careful with your interpretation. Though I haven't tuned in the media structure associated with this gent and his fellow cadres for some time, gold was always going up even when it wasn't and that would cost you dearly if you invested accordingly. Gold has not destroyed the Fed in its more than 100 years existence and it is a public entrepot of the world's reserve currency. It is very very unlikely to unseat it, even childish to push that barrow, as though we are in the 1980s. What is more likely is that new currency systems will evolve.
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    Yuan might as well be a component, but will gold be a component?
    (SDR components: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%. - Wikipedia)

    Gold price "revised" means what?

    Pointing upwards or downwards?
     

Share This Page